Should the profits generated by the cryptocurrency trade be taxed? If yes, how? A rare question about this investment opportunity, if you believe the American accountants.
• According to experts, many crypto investors pay no tax on their business with Bitcoin and Co.• The United States is already working on a new regulation • A new bill on monitoring cryptography activities is also planned in Germany.
In a recent study by Blox, US accountants surveyed, also known as CPA (CPA), believed that about 95 percent of clients were unable to complete transactions.digital assets, including Bitcoin, Litecoin, etc.and Ethereum – to disclose.This is probably due to the small age, the lack of government regulation and the lack of knowledge of this instrument of investment.
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Buying Bitcoin is quite complicated and takes time.” Here you can easily buy and sell Bitcoins Bitcoin, Ethereum and Ripple correctly taxed
Investing in Bitcoin and Co.
does not necessarily mean buying bitcoins directly.As for equities, there are also social trading platforms for crypto-currencies that allow Increase or decrease prices.In this variant, the investor is subject to a withholding tax of 25%, plus the solidarity surcharge, which he can then quote in Germany in the tax declaration included in the annex KAP..If, on the other hand, it is decided to buy bitcoins, this falls into the category of “private sales”, also called “speculative transactions” (SO tax return).This is tax free up to an annual profit of 600 euros and is not taken into account for a holding period of more than one year.
It is a fact that many crypto investors around the world do not pay taxes on their profits.Regulation of crypto-currencies in the USA
In the United States, the IRS (Internal Revenue Service) therefore planned to contact more than 10,000 American Bitcoin owners as early as July 29, as they did not pay tax on their Bitcoin transactions, intentionally or otherwise.for lack of knowledge.According to the study, the IRS is currently working to put in place official regulations, thus reinforcing the auditors’ opinion.
Because 96% of them assume that official regulation of cryptos by states is imminent.In addition, according to the majority of CPA, in almost all cases, incorrect or inaccurate data is responsible for billing errors.
The future of Bitcoin et Cie around the world
It is imperative that the major economies address the problem and create new laws.Next year already, Facebook plans to introduce Libra cryptocurrency, which could compete directly with well-known currencies such as the euro and hit the US dollar.The valuation of US accountants is an interesting basis for discussion.the current situation surrounding this new investment, as it is clear that in the future, the volume of cryptocurrency transactions will increase, as well as the taxes to be paid, while, relatively speaking, investors are less and less likely to have expertise in finance and investment.German cryptographic measures
In Germany, too, a bill has been introduced in recent months requiring the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) to monitor companies associated with cryptocurrencies in the future.
For private investors do not change much.However, in the coming years in Germany, it can be assumed that the private use of Bitcoins and Co.will also be regulated more strictly.
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